One of the most popular betting options offered by the world of gambling is horse racing. Even those who haven’t bet on any other sport have tried their luck at horse racing bets. The Grand National witnesses many wagers soaring to massive wins, and many of these are often taken home by the beginners. But luck will not favor you at every game. The randomness can turn the tables for you, taking you down the pit of losses. So, it is important that you understand the working of horse racing bets. In order to make a fortune from the wagers at the sportsbooks, you must begin by learning the basics. Once you are familiar with the working of the game, you can head to the bookmaker to place bets. However, you would need more than the fundamentals in your bag to get started with horse racing betting. Here are a few strategies that could help you build your horse racing betting career.
Know Your Odds
The expressions of odds will differ depending on where you are located. Of the two betting systems available, fixed odds betting, as the name suggests, has the payout fixed at the time of placing the bet. This amount will not change at any stage, and the winning wager will always be the exact amount as agreed. Most horse racing betting sites use the fixed odds system. A few sites have also been using the Parimutuel odds method, which is more popular in the US than in Europe. All the money in a betting pool is taken into account to determine the payout odds of winning bets. A ‘tote’ system controls the bets to deduct the house’s cut at the right time. In Parimutuel betting, until the betting pool is closed, the final payout will not be fixed.
Take Advantage of the Sportsbooks
If you have been betting on horse races for some time now, you might be aware of the fact that all the bets aren’t to the bookies’ advantage. Although they want the odds stacked in their favor, that is not always the case. So, you must take advantage of the bookies when they are at their weakest. Each-way bets are the most common ones without a clear advantage. Games having a strong favorite will come with great each-way bets for punters. The second and third favorites in these races are less likely to upset the bettors; they usually come in the first three positions.
Make Use of the Bonuses
When you are betting on any popular website, the chances of being offered rewards are fairly high. Make sure you use these to your advantage in order to improve your odds and payout percentage. This could most probably be the most underrated strategy, but it does work. A large temporary bankroll is offered by these bonuses and promotions. Horse racing bets can yield greater winnings with such bonuses; so, make it a point to learn how to use it the right way.